Things are looking up for summer rentals in Rhode Island

View of the breachway from Champlin's Seafood in Narragansett. Rental agents say that summer rentals are moving much quicker than they did last year, helped by stable pricing.

By Christine Dunn | | Journal Staff Writer

View of the breachway from Champlin's Seafood in Narragansett.Rental agents say that summer rentals are moving much quicker thanthey did last year, helped by stable pricing.

The Providence Journal / Kris Craig

The summer rental market in Rhode Island appears to be inrecovery mode, with more people booking their beach getawaysearlier this year than in 2010, according to brokers who managevacation properties.

"I think it's a little bit better. Prices are not up, butbookings are up a little," said Jim Durkin, owner of Durkin CottageRealty (durkincottages.com) in Narragansett. Durkin books summerrentals for about 150 houses in southern Rhode Island, and said hestill has openings for the prime summer weeks in July andAugust.

So far, 2011 has been "much better than last year," on BlockIsland, said Nancy Pike, co-owner and broker at Beach Real Estate(bibeachrealestate.com). "We found that in January and February,August and the late weeks in July booked up very quickly," shesaid. There are still some weeks available in early July, she said,but "we seem to be back on track."

Pike said her agency is responsible for booking rentals at about50 Block Island properties. She also said that weekly rental costshave remained at 2010 levels, for the most part. "We areencouraging owners not to raise prices," she said.

A look at the website of Sullivan Real Estate, which managessummer bookings for about 150 rentals in Block Island, shows mostof the prime summer rental weeks in July and August are alreadytaken, though a week is available here and there, most often inJune or in the last week of August, when many children have to beback in school.

Last year, Durkin, Cindy Pappas, the owner of Sullivan RealEstate, (blockislandhouses.com) and David Enstone, co-owner of theWilliam Raveis Chapman Enstone brokerage in Newport, which alsooperates the newportrentalguide.com website, said many people werewaiting until May or June to book their summer rentals.

"We had a real blip last year," Pike said of the 2010 summerseason.

This year, Pike said, September rentals are also doing well.September is a popular month for couples without children whoprefer the quieter pace of the island during the last weeks ofsummer, she said.

Rentals have become a more important part of the real-estatebusiness during the housing downturn. Last year, Lila Delman RealEstate ( www.liladelman.com), which specializes in Rhode Island'scoastal luxury market, hired Liz Brazil, who had operated her ownJamestown rental business, to strengthen its presence on ConanicutIsland. (Delman had already hired away a successful Jamestown salesagent, Bob Bailey, from Island Realty).

Kim Churas, the rental manager at Lila Delman Real Estate, saidher company manages bookings for about 150 summer rentals. She saidthat there are still "plenty of vacancies" left for people who arewaiting until the last minute to book a summer getaway. "You canalways get something," she said.

Durkin's rentals for peak season range from as low as $425 to$650 for one- and two-bedroom cottages to $800 to $1,500 forfour-bedroom houses. Prices are much higher on Block Island, wheresmaller cottages start at about $950 a week, and larger or moreluxurious houses are priced from $5,000 to $10,000 a week.

Durkin said cottages that are attractive and well-maintained,and especially homes that also have air conditioning, "are reallywell booked."

"It really helps to put money into your property," Durkinsaid.

Block Island tends to attract an affluent clientele, but eventhere, well-kept rentals on the lower end of the curve are easierto book.

Karla Sargent, who rents out a small cottage for two on herBlock Island property for $1,100 to $1,350 per week, said she'snever had much trouble with bookings during any part of therecession.

Sargent explained that most of her rentals are repeat customers,and she uses a website, home- away.com, to fill in the holes in herschedule.

This year, her prime summer weeks are already taken, except forsix nights during the first week of August. A two-week reservationhad been canceled, but Sargent was able to rebook eight of thosenights almost immediately using the website.

She said she would have been able to rebook the entire twoweeks, but her new tenant was not able to secure a car reservationon the Block Island Ferry that would make the dates work.